Sunrise Telecom announces CFO departure
August 24, 2009 -- The supplier of network test and measurement products announced that chief financial officer (CFO) Rick Kent is leaving the company, effective immediately. The departure is in line with the company's recent decision to de-register as a public company with the Securities and Exchange Commission (SEC).
August 24, 2009 -- Sunrise Telecom Inc., a supplier of test and measurement solutions for telecom, wireless and cable networks, announced that chief financial officer (CFO) Rick Kent is leaving the company, effective immediately.
Sunrise says the departure is in line with the company's recent decision to de-register as a public company with the Securities and Exchange Commission (SEC). Lyron Bentovim, chief operating officer, will also assume the position of CFO. Jim Walker, corporate controller, will be promoted to chief accounting officer.
"Rick has been a valuable leader and we thank him for his guidance and commitment to the company for the past four-plus years," comments Bahaa Moukadam, Sunrise CEO. "He was instrumental in guiding Sunrise through a tough restatement process and getting us current with SEC reporting. He helped the company drive down operating expenses from more than $18 million per quarter in 2007 to $9 million per quarter in 2009 and contributed significantly to our strategic reorganization."
"Sunrise Telecom's needs for financial guidance and expertise have changed significantly since its de-registration as a public company with the SEC," says Kent. "As a result, while I will continue to support the company to ensure a smooth transition, I will begin looking for opportunities that can leverage my knowledge, both with public companies or those planning to go public, as well as boards of public or soon-to-be public companies that may need financial expertise on their audit committees."
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